Various attempts have been made to develop a satisfactory method to reduce the surface gloss of a thermoplastic resin. They may include processing the thermoplastic resin at a low temperature, incorporating inorganic fillers such as silica and calcium carbonates into the resin and the like. However, the above techniques usually deteriorate the physical properties of the final products detrimentally. In order to overcome the drawback mentioned above, organic fillers such as polymeric gloss modifiers have been developed, which can reduce the gloss by virtue of their working principles that when the polymeric gloss modifier is incorporated into a thermoplastic resin(matrix resin), the polymeric modifier particles having lower thermal shrinkability than the matrix resin(e.g., PVC) sit on the top of the thermoplastic resin because of the difference in the thermal shrinkability between the polymeric modifier and the matrix resin to scatter light. Acryloid.sup.R KF-710, marketed by Rohm and Haas of the U.S., is a gloss-modifying acrylic resin prepared by a bulk polymerization process. However, the prior art scheme still suffers from various deficiencies related to the complicated process requirements involved and high manufacturing cost.